A Dozens of Indian Investors Suffer Stock Investment Scam, Lose INR 15.8 Million

Twelve stock investors from India were subjected to an investment scam. The fraudsters promised lucrative returns, but after getting the money from the clients, they disappeared along with the entire stock company.

It is reported that the fraudsters set up a stock trading company in Chakeri, a town in India, promising investors that stock trading would bring them huge profits. Under their persuasion, 12 investors invested a total of Rs 15.8 million in the company.

The victim, Rajesh Kumar Uttam, described his experience of being cheated. In 2023, he met Jitendra Kumar and Amarpal, both operators of the fake stock trading company, who assured Rajesh that the investment would be successful.

In the end, these investors failed to get any returns, not even their principal.

However, it wasn't long before the scammers shut down the company and disappeared. Victims could not contact the scammers after realizing that they had been scammed and approched to the police.

According to local reports, the Indian police did not actively investigate the case, leading the victims to resort to legal action.

After obtaining a court order, the police initiated an investigation and officially registered the victims' complaint.